Post navigation

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Does anyone have info on how many presale condos were sold this year? vs how many total?

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Peripheral RE connection but I thought it’s worth quoting just because it’s so ridiculous:

George Macintosh, a lawyer for Mr. Aquilini, told Justice Nathan Smith on Thursday that releasing details of his client’s finances in his divorce from estranged wife Taliah could threaten the Canucks brand, fan loyalty and relationships with sponsors.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

#9, Patriotz: Well, this is the big question at the heart of everything going forward, isn’t it? Given current personal debt levels, given that wages aren’t increasing, given that BPOE cost of living is out of control, given that RE prices are stratospheric (though a bit less stratospheric than a year ago), given the gobs of new product coming on to the market as developers vainly try to catch the end of the bubble, given new mortgage restrictions, given that interest rates have nowhere to go but up, given that smarmy mouthpiece Scam Good has been oddly silent for months now, given that even the RE industry-funded mainstream media is changing its tune, given that renting is SO much cheaper than owning, given that 70-plus percent of us apparently *already* own, given that HAM is a SHAM, given that things… Read more »

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@gordholio: “My friends, for example, who want to sell their condo and buy again immediately”

If they are intending to move up, at least they’ll be better off staying put.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@gordholio: “given that wages aren’t increasing, given that BPOE cost of living is out of control, given that RE prices are stratospheric (though a bit less stratospheric than a year ago), given the gobs of new product coming on to the market as developers vainly try to catch the end of the bubble, given new mortgage restrictions, given that interest rates have nowhere to go but up”

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Faber is a very thoughtful analyst, and I believe people should listen more carefully to them than to market pundits that are employed by firms that have a vested interest in stock markets climbing (just as one should never listen to a real estate agent prognosticate about where real estate prices are going).

If Faber is right, and 2013 does in fact see a global recession – even a mild one – Canada will get smoked economically, and Vancouver home prices will collapse from these levels. Not that this is a terribly new thought or anything…

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@gordolio

Your friends cannot accept a change of paradigm in a few months. They are not idiots, they are going through the seven stages of grief.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@patriotz: “But that will have no effect on Vancouver of course, because it has no manufacturing anyway.”

Not true… Vancouver has a thriving meth cooking industry…

AMC is thinking of developing a Vancouver Franchise of “Breaking Bad”.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Not very relevant. A 2006 Census result put mining, gas and oil combined at 0.9% of the workforce. The last Census found that adding forestry, fishing and quarrying employed about 45,000. Real estate and construction combined runs around 336,000 not including building support services, manufacturing is around 195,000. The only categories smaller than all the BC natural resources industries combined are Utilities and Agriculture, so a mining slowdowns’ greatest impact will be as fodder for excuses.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

I found it interesting, MSM getting some sense of impending decline in RE.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

14 PCinWA Says: “… 2013 does in fact see a global recession – even a mild one – Canada will get smoked economically, and Vancouver home prices will collapse from these levels…”

The global economy sputtered over a period of unparalleled growth in Vancouver prices so it makes little sense to tie a collapse to them now. Vancouver will do what all irrationally priced markets have always done without Greece’s help.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@gordholio: “Yet they somehow blindly believe their stupid-ass realtor when she says the current slump is just a “local thing” and that it’ll all turn around in September”

It’s hard to blame people for thinking things will turn around since over the past few years there has been a couple slumps/crashes and it has turned around each time. I truly believe it’s not going to turn around this time, but many will be in denial until the bitter end and will never sell.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Yup, and I am only 90% sure it wont turn around this time. In fact, I am less sure now than I was in 2008. This market has shown us that it can stay irrational through thick and thin. Don’t get me wrong, it has to go back to fundamentals at some point, and I fully believe that has started, but I wouldn’t bet money on a date.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Despite their material comfort and living in one of the most Asian cities in North America, HAM don’t like it here and are not assimilating. You can bet that once they realize they’re deep in negative equity, they will catch the first plane out of YVR.

Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.